Invalidation point: 0.70644 (last bottom on )
See below the multitimeframe analysis
M) Down: Range Rules (Relative Strengh Index moves between 20 and 60), Bear retracement exactly at 50%, Price is lower as several moving averages. There is one contradiction, which is the bear divergence on the CFG Indicator. The CFG on the monthly chart is showing lower tops while the price is giving higher tops. That indicates a short bear detour after which the market should resume it's bull trend. Due to more evidence as , I'm prefering the scenario instead of the . Next target is the last bottom at 0.63411
W) Down: Relative strengh indicator recently broke below 40, Positive reversal target of 0.78116 is not achieved, which is very . The weekly traders are clearly heading down.
D) Down: Range Rules (Relative Strengh Index moves between 20 and 60), recent Negative Reversal Target of 0.7006 is being hit. That pricelevel is now resistance. In addition to that the prices are below the moving averages. The daily traders are clearly . Wait for a Negative reversal on this timeframe (or lower) to enter the market
4H) Down: Range Rules (Relative Strengh Index moves between 20 and 60). Prices are below the moving averages. The 4H traders are clearly . Wait for a Negative reversal on this timeframe to enter the market.
Conclusion: All TF's aligned, find a Daily or 4H Negative Reversal to enter the market with as target 0.63411
Stoploss: 0.69280 (thick black line)